25315545 2025-01-01 2025-12-31 25315545 2025-01-01 2025-12-31 0 25315545 2025-01-01 2025-12-31 0 25315545 2025-01-01 2025-12-31 1 25315545 2025-01-01 2025-12-31 2 25315545 2025-01-01 2025-12-31 0 25315545 2024-01-01 2024-12-31 25315545 2025-12-31 25315545 2024-12-31 25315545 2024-12-31 fsa:RetainedEarningsMember 25315545 2025-01-01 2025-12-31 fsa:RetainedEarningsMember 25315545 2024-12-31 25315545 2024-12-31 fsa:ContributedCapitalMember 25315545 2025-01-01 2025-12-31 fsa:ContributedCapitalMember 25315545 2025-12-31 fsa:ContributedCapitalMember 25315545 2025-12-31 fsa:RetainedEarningsMember iso4217:DKK xbrli:pure 2025-01-01 Regnskabsklasse B true Annual report 30700228 EY Godkendt revisionspartnerselskab Cortex Park Vest 3 5230 Odense M xWizard version 1.1.1540.0, by EasyX Aps. www.easyx.eu 2024-01-01 2024-12-31 Independent Auditor’s Report Basis for Opinion Opinion 2026-07-10 Sergio Colella Statement by the Board of Directors and the Executive Board Today, the Board of Directors and the Executive Board have discussed and approved the annual report of SITA   WORKBRIDGE A/S (the “Company”) for the financial year 1 January - 31 December 2025. 2025-12-31 The annual report is prepared in accordance with the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the financial position of the Company at 31   December 2025 and of the results of the Company's operations for the financial year 1 January - 31 December 2025.   We recommend that the annual report be approved at the annual general meeting. Copenhagen 2026-07-10 Nicolas Emmanuel Husson Executive Board Sergio Colella Chairman Sébastien Jean-Louis Paillet Director Nicolas Emmanuel Husson Director Independent Auditor’s Report To the Shareholder of SITA WORKBRIDGE A/S Opinion   In our opinion, the Financial Statements give a true and fair view of the financial position of the Company at 31   December 2025, and of the results of the Company’s operations for the financial year 1 January - 31 December 2025   in accordance with the Danish Financial Statements Act.   We have audited the Financial Statements of SITA WORKBRIDGE A/S for the financial year 1 January - 31 December   2025, which comprise income statement, balance sheet, statement of changes in equity and notes, including a   summary of significant accounting policies (“the Financial Statements”).   Basis for Opinion   We conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional   requirements applicable in Denmark. Our responsibilities under those standards and requirements are further   described in the “Auditor’s responsibilities for the audit of the Financial Statements” section of our report. We are   independent of the Company in accordance with the International Ethics Standards Board for Accountants’   International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements   applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements   and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a   basis for our opinion.   Management’s responsibilities for the Financial Statements   Management is responsible for the preparation of financial statements that give a true and fair view in accordance   with the Danish Financial Statements Act, and for such internal control as Management determines is necessary to   enable the preparation of financial statements that are free from material misstatement, whether due to fraud or   error.   In preparing the Financial Statements, Management is responsible for assessing the Company’s ability to continue as a   going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of   accounting in preparing the Financial Statements unless Management either intends to liquidate the Company or to   cease operations, or has no realistic alternative but to do so.   Auditor’s responsibilities for the audit of the Financial Statements   Our objectives are to obtain reasonable assurance about whether the Financial Statements as a whole are free from   material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion.   Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with   ISAs and the additional requirements applicable in Denmark will always detect a material misstatement when it exists.   Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could   reasonably be expected to influence the economic decisions of users taken on the basis of these Financial   Statements.   As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we   exercise professional judgement and maintain professional scepticism throughout the audit. We also:   x Identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or   error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is   sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material   misstatement resulting from fraud is higher than for one resulting from error as fraud may involve collusion,   forgery, intentional omissions, misrepresentations, or the override of internal control.   x Obtain an understanding of internal control relevant to the audit in order to design audit procedures that   are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness   of the Company’s internal control.   x Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates   and related disclosures made by Management.   x x Evaluate the overall presentation, structure and contents of the Financial Statements, including the   disclosures, and whether the Financial Statements represent the underlying transactions and events in a   manner that gives a true and fair view.   Conclude on the appropriateness of Management’s use of the going concern basis of accounting in   preparing the Financial Statements and, based on the audit evidence obtained, whether a material   uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to   continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw   attention in our auditor’s report to the related disclosures in the Financial Statements or, if such disclosures   are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the   date of our auditor’s report. However, future events or conditions may cause the Company to cease to   continue as a going concern.   We communicate with those charged with governance regarding, among other matters, the planned scope and timing   of the audit and significant audit findings, including any significant deficiencies in internal control that we identify   during our audit.   Hellerup 2026-07-10 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab 33771231 Thomas Lauritsen State Authorised Public Accountant mne34342 SITA WORKBRIDGE A/S 25315545 2000-04-14 Copenhagen Sergio Colella Chairman Sébastien Jean-Louis Paillet Nicolas Emmanuel Husson Nicolas Emmanuel Husson Executive Board 2234539 2101193 2021149 1901375 1062 621 118712 132725 464550 418069 2787736 1987358 -1450577 -2190461 -129885 167535 -1320692 -2357996 -1320692 -2357996 64509 64509 0 0 0 740000 13541 3902 544721 740000 0 0 757443 1284721 330729 1088172 1152681 834289 2119010 2119010 500000 -35425654 -34925654 500000 -34104962 -33604962 2581850 2899173 44825 33103744 347916 24352 32357570 442877 36078335 1152681 35723972 2119010 -34104962 -1320692 -33604962 -1320692 0 500000 0 500000 -35425654 -34925654 1 Accounting policies The annual report of SITA WORKBRIDGE A/S for 2025 has been prepared in accordance with the provisions in the Danish Financial Statements Act applying to reporting class B entities and elective choice of certain provisions applying to reporting class C entities. Basis of recognition and measurement   Income is recognised in the income statement as and when it is earned, including recognition of value adjustments of   financial assets and liabilities. Any costs, including depreciation, amortisation and write down, are also recognised in   the income statement.   Assets are recognised in the balance sheet when it is likely that future economic benefits will flow to the company and   the value of the asset can be measured reliably.   Liabilities are recognised in the balance sheet when it is likely that future economic benefits will flow from the company   and the value of the liability can be measured reliably.   The initial recognition measures assets and liabilities at cost. Subsequently, assets and liabilities are measured as   described in the following for each item.   Certain financial assets and liabilities are measured at amortised cost, recognising a constant effective interest over   the term. Amortised cost is stated at initial cost less any deductions and with addition/deduction of the accumulated   amortisation of the difference between cost and nominal amount.   The recognition and measurement take into account predictable losses and risks arising before the year-end reporting   and which prove or disprove matters that existed at the balance sheet date.   Reporting currency   The financial statements are presented in Danish kroner (DKK).   Foreign currency translation   Transactions in foreign currencies are translated at the rate of exchange on the transaction date. Exchange differences   arising between the rate on the transaction date and the rate on the payment date are recognised in the income   statement as a financial income or expense.   If the foreign exchange position is considered to hedge future cash flows, the unrealised exchange adjustments are   recognised directly in the equity.   Accounts receivable, payable and other monetary items in foreign currencies that are not settled on the balance sheet   date are translated at the exchange rate on the balance sheet date. The difference between the exchange rate on the   balance sheet date and the exchange rate at the time of occurrence of the receivable or payable is recognised in the   income statement as financial income or expenses.   Fixed assets acquired in foreign currencies are translated at the rate of exchange on the transaction date.   ccounting policies (continued) Income statement Revenue   The net revenue from sale is recognised in the income statement if supply and risk transfer to purchaser has taken   place before the end of the year. Net revenues are recognised exclusive of VAT, duties and less discounts related to   the sale.   Gross profit   The items revenue, external expenses and other operating income have been aggregated into one item in the income   statement called gross margin in accordance with section 32 of the Danish Financial Statements Act.   Other external expenses   Other external expenses include the year's expenses relating to the Company's core activities, including expenses   relating to distribution, sale, advertising, administration, premises, bad debts, payments under operating leases.   Staff costs   Staff costs include wages and salaries, including compensated absence and pension to the Company's employees, as   well as other social security contributions, etc. The item is net of refunds from public authorities.   Amortisation/depreciation   The item comprises amortisation/depreciation of property, plant and equipment.   The basis of depreciation, which is calculated as cost less any residual value, is depreciated on a straight line basis over   the expected useful life. The expected useful lives of the assets are as follows:   Acquired plant and equipment   5-10 years   Other operating income and expenses   Other operating income and other operating expenses comprise items of a secondary nature to the main activities of   the Company, including gains and losses on the sale of intangible assets.   Financial income and expenses   Financial income and expenses include interest income and expenses and transactions in foreign currencies,   amortisation of financial assets and liabilities as well as charges and allowances under the tax-on-account scheme etc.   Financial income and expenses are recognised in the income statement by the amounts that relate to the financial year.   Tax   Tax for the year includes current tax on the year's expected taxable income and the year's deferred tax adjustments.   The portion of the tax for the year that relates to the profit/loss for the year is recognised in the income statement,   whereas the portion that relates to transactions taken to equity is recognised in equity.   The Company is jointly taxed with Danish group enterprises. The tax effect of the joint taxation with the Group   enterprises is allocated to enterprises showing profits or losses in proportion to their taxable incomes (full allocation   with credit for tax losses).   ccounting policies (continued) Balance sheet Property, plant and equipment   Property, plant and equipment are held at cost less accumulated depreciation and impairment losses except for   property, plant and equipment under construction which is held at cost less accumulated impairment losses. Cost   includes all directly attributable costs of bringing the asset to working condition and location for its intended use,   including the applicable borrowing cost.   Subsequent expenditures are included in the asset's carrying amount or recognized as a separate asset if the recognition   criteria are met. All other repair and maintenance costs are expensed as incurred.   After initial recognition, tangible assets are carried at cost less accumulated amortization and impairment losses. Any   subsequent costs are included in the income statement   Impairment of fixed assets   The carrying amount of property, plant and equipment is assessed for impairment on an annual basis.   Impairment tests are conducted on assets or groups of assets when there is evidence of impairment. The carrying   amount of impaired assets is reduced to the higher of the net selling price and the value in use (recoverable amount).   The recoverable amount is the higher of the net selling price of an asset and its value in use. The value in use is calculated   as the present value of the expected net cash flows from the use of the asset or the group of assets and the expected   net cash flows from the disposal of the asset or the group of assets after the end of the useful life.   Previously recognised impairment losses are reversed when the reason for recognition no longer exists.   Receivables   Receivables are measured at amortised cost. An impairment loss is recognised if there is objective evidence that a   receivable is impaired. If there is objective evidence that an individual receivable has been impaired, an impairment  loss is recognised on an individual basis.   Prepayments   Prepayments comprise prepaid expenses concerning rent at insurance premiums.   Income taxes and deferred tax   Current tax liabilities and receivable current tax are recognised in the balance sheet as the calculated tax on the taxable   income for the year, adjusted for tax on the taxable income for previous years and taxes paid on account.   Deferred tax is measured on the temporary differences between the carrying amount and the tax value of assets and   liabilities.   Deferred tax assets, including the tax value of tax loss carry-forwards, are measured at the expected realisable value of   the asset, either by set-off against tax on future earnings or by set-off against deferred tax liabilities within the same   legal tax unit.   Deferred tax is measured on the basis of the tax rules and tax rates that under the legislation in force on the balance   sheet date would be applicable when the deferred tax is expected to crystallise as current tax. A change in the deferred   tax, which is a result of changes to tax rates, is recognised in the income statement with the exception of items that are   taken directly to equity.   Liabilities   Liabilities are measured at amortised cost equal to nominal value.   Provisions   Provisions are recognised when - in consequence of an event occurred before or on the balance sheet date - the   Company has a legal or constructive obligation and it is probable that economic benefits must be given up to settle the   obligation. Provisions are measured and recognised based on management estimate to the expected outcome of the   event.   Notes to the financial statements   Deferred income   Deferred income recognised as a liability comprises payments received concerning income in subsequent financial   reporting years.   2 Key activities   General information   The Company is a wholly owned subsidiary of SITA B.V. incorporated under the laws of the Netherlands, having its   registered office in Rotterdam, the Netherlands. The ultimate beneficial owner is Société Internationale de   Télécommunications Aéronautiques SC (“SITA SC”), a cooperative company incorporated in Belgium. In these financial   statements, “SITA Group” or the “Group” refer to SITA SC together with its branches and subsidiaries.   Business review   The Company's primary activities include sale of management and IT consultancy services as well as development and   sale of software to control a number of mobile labor forces mainly in the aviation industry.   3 Going concern uncertainties   The Company's cumulative losses exceed its share capital. To mitigate this situation, the Parent has issued a letter of   support covering the next 12 months after the approval of the 2025 financial statements. On this basis Management   presents the financial statements on a going concern basis.   Staff costs 1771630 1923690 121201 8544 158358 19145 2 2 Financial income 137959 280110 0 464550 Financial expenses 0 1569289 24 43968 2323186 200 418045 1987358 420382 2787736 Tax for the year -129885 -142498 260000 50033 0 7 Deferred tax assets   Due to the Company's group structure and transfer pricing, it is possible to estimate future annual profits for a   foreseeable future period. On this basis, in 2025 the deferred tax asset has been recognised with to DKK 0.7 million  (2024: 0.7 million).   8 Contractual obligations and contingencies, etc.   Contingent liabilities   Joint liabilities   The Company is jointly and severally liable together with the branch SITA B.V. for tax on the jointly taxed income and   for certain possible withholding taxes such as dividend tax and royalty tax, and for the joint registration of VAT.   Other contractual obligations   The Company has no mutually binding agreements or other contractual obligations.   9 Related parties   Information about consolidated financial statements   Requisitioning of the parent   company's consolidated financial   Parent   Domicile   statements   SITA B.V.   Blaak 555,   Blaak 555,   3011 GB Rotterdam, Holland   3011 GB Rotterdam, Holland